Cooper Holding Provides Details of 3 Billion Share AS Reduction

Executive Vice President, Timothy Durant, commented, "Mr. Cooper is planning to update the shareholders, in the very near future, on significant developments affecting the future of the corporation. While I can't speak to his specific intentions I wanted to provide details of the share structure change as promised.

"After our most recent round of cuts the authorized common count stands at 1 Billion and the preferred count is at 20 million. The current outstanding common count is at 743,945,913, the non-restricted common count is at 689,091,824, and the preferred count is at 1. The current float stands at 531,091,824 and is up slightly from our last filing, the change was necessary and given our current position I think well worth it. We do not see any of these numbers increasing, any time soon, as it would be contrary to our current efforts. The one preferred share, that is not convertible, was issued to Mr. Cooper and guarantees 51% of the voting rights. Since our common shares carry equal weight this was necessary in anticipation of a large block owner.

"The Board of Directors has agreed to begin increasing our individual ownership positions by purchasing shares on the open market and those purchases will be reflected in future filings. We have also agreed to further cuts to both the AS and OS provided it's in the best interest of both the corporation and its shareholders. We've been very careful when releasing information and will continue to do so. It's important that we continue to build confidence and trust in the management team and we don't want to do anything to jeopardize our progress. I'm not able to provide additional details at this time but I'm sure Mr. Cooper will elaborate on the comments I've made today."

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently.